,,ii  #aai? ,,congress  #a/ ,session    
,s4 #ahgi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bb1 #bjbe,mr4    
,oss(f 7= himself1 ,mr4 ,kelly1 ,ms4    
,baldw91 ,ms4 ,duckwor?1 ,mr4 ,s*atz1   
,mrs4 ,%ahe51 ,mr4 ,w>nock1 ,mr4 ,b5net1
 & ,mrs4 ,gillibr&7 introduc$ ! foll[+  
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,homel& ,security &       
,gov]nm5tal ,affairs  ,a ,,bill  ,to    
am5d *apt] #aca ( title #e1 ,unit$      
,/ates ,code1 to require ,memb]s (      
,congress & _! sp\ses & dep5d5t *ildr5  
to place c]ta9 assets into bl9d tru/s1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,ban ,congressional
 ,/ock ,trad+ ,act4  #b4 ,placem5t (    
c]ta9 assets ( ,memb]s ( ,congress1     
sp\ses1 & dep5d5t *ildr5 9 qualifi$ bl9d
 tru/s  7a7 ,9 g5]al ,*apt] #aca ( title
 #e1 ,unit$ ,/ates ,code1 is am5d$ by   
add+ at ! end ! foll[+3  ,,iv ,c]ta9    
assets ( ,memb]s ( ,congress1 sp\ses1 & 
dep5d5t *ildr5  #acafa4 ,def9itions ,9  
?is title3 7#a7 ,commodity ,! t]m       

commodity has ! mean+ giv5 ! t]m 9      
section #a;a ( ! ,commodity ,ex*ange    
,act 7#g ,u4,s4,c4 #a;a74  7#b7 ,cov]$  
inve/m5t  7,a7 ,9 g5]al ,! t]m cov]$    
inve/m5t means-- 7i7 an inve/m5t 9 a    
security1 a commodity1 or a future2 &   
7ii7 any economic int]e/ comp>able to an
 int]e/ describ$ 9 clause 7i7 t is      
acquir$ ?r\gh syn!tic means1 su* z ! use
 ( a d]ivative1 includ+ an option1      
w>rant1 or o!r1 simil> means4  7,b7     
,inclusions ,! t]m cov]$ inve/m5t       
includes an inve/m5t or economic int]e/ 
describ$ 9 subp>agraph 7,a7 t is held   
directly1 or 9 :i* an individual has an 
indirect1 b5eficial1 or economic int]e/1
 ?r\gh-- 7i7 an inve/m5t fund2  7ii7 a  
tru/ 7o!r ?an a qualifi$ bl9d tru/72    
7iii7 an employee b5efit plan2 or  7iv7 
a def]r$ comp5sation plan1 includ+ a    
c>ri$ int]e/ or o!r agreem5t ti$ to !   
p]=mance ( an inve/m5t1 o!r ?an a fix$  
ca% paym5t4  7,c7 ,exclusions ,! t]m    
cov]$ inve/m5t does n include-- 7i7 a   
div]sifi$ mutual fund 7includ+ any      

hold+s ( su* a fund72  7ii7 a div]sifi$ 
ex*ange-trad$ fund 7includ+ any hold+s (
 su* a fund72  7iii7 a ,unit$ ,/ates    
,treasury bill1 note1 or bond2  7iv7    
comp5sation f ! prim>y occupation ( a   
sp\se or dep5d5t *ild ( a ,memb] (      
,congress2 or  7v7 any inve/m5t fund    
held 9 a ,f$]al1 ,/ate1 or local        
gov]nm5t employee retirem5t plan4  7,d7 
,cl>ification ,an inve/m5t t a*ieves    
compliance ) applicable environm5tal1   
social1 & gov]nance crit]ia %all n be   
consid]$ to be a cov]$ inve/m5t solely  
by reason ( t compliance4  7#c7 ,curr5t 
,! t]m curr5t1 ) respect to a ,memb] (  
,congress1 means an individual :o is    
s]v+ z a ,memb] ( ,congress on ! date ( 
enactm5t ( ! ,ban ,congressional ,/ock  
,trad+ ,act4  7#d7 ,dep5d5t *ild ,! t]m 
dep5d5t *ild means1 ) respect to any    
,memb] ( ,congress1 any individual--    
7,a7 :o has n atta9$ ! age ( #ai2 &     
7,b7 :o is a dep5d5t1 )9 ! mean+ (      
section #aeb ( ! ,int]nal ,rev5ue ,code 
( #aihf1 ( ! ,memb] ( ,congress4  7#e7  

,div]sifi$ ,! t]m div]sifi$1 ) respect  
to a fund1 tru/1 or plan1 means t !     
fund1 tru/1 or plan does n h a /at$     
policy ( conc5trat+ its inve/m5ts 9 any 
indu/ry1 bus9ess1 s+le c\ntry o!r ?an ! 
,unit$ ,/ates1 or bonds ( a s+le ,/ate4 
7#f7 ,future ,! t]m future means-- 7,a7 
a security future 7z def9$ 9 section    
#c7;a7 ( ! ,securities ,ex*ange ,act (  
#aicd 7#ae ,u4,s4,c4 #gh;c7a7772 &  7,b7
 any o!r contract = ! sale ( a commodity
 = future deliv]y4  7#g7 ,initial       
prop]ty ,! t]m initial prop]ty means an 
asset or f9ancial int]e/ transf]r$ to a 
qualifi$ bl9d tru/ by1 or on behalf (1  
an int]e/$ p>ty or a relative ( an      
int]e/$ p>ty1 reg>dless ( :e!r ! asset  
or f9ancial int]e/ is transf]r$ to !    
qualifi$ bl9d tru/ on or aft] ! date (  
e/abli%m5t ( ! qualifi$ bl9d tru/4  7#h7
 ,int]e/$ p>ty ,! t]m int]e/$ p>ty has !
 mean+ giv5 ! t]m 9 section             
#acajd7;f77#c77;,e74  7#i7 ,memb] (     
,congress ,! t]m ,memb] ( ,congress has 
! mean+ giv5 ! t]m 9 section #acaja4    

7#aj7 ,new ,! t]m new1 ) respect to a   
,memb] ( ,congress1 means an individual 
:o-- 7,a7 is n a curr5t ,memb] (        
,congress2 b  7,b7 comm5ces s]vice z a  
,memb] ( ,congress aft] ! date (        
enactm5t ( ! ,ban ,congressional ,/ock  
,trad+ ,act4  7#aa7 ,qualifi$ bl9d tru/ 
,! t]m qualifi$ bl9d tru/ means a       
qualifi$ bl9d tru/ 7z def9$ 9 section   
#acajd7;f77#c77 t has be5 approv$ 9     
writ+ by ! applicable sup]vis+ e?ics    
(fice "u section #acajd7;f77#c77;,d74   
7#ab7 ,security ,! t]m security has !   
mean+ giv5 ! t]m 9 section #c7;a7 ( !   
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a774  7#ac7 ,sup]vis+   
e?ics (fice ,! t]m sup]vis+ e?ics (fice 
has ! mean+ giv5 ! t]m 9 section #acaja4
  #acafb4 ,placem5t ( c]ta9 assets 9    
qualifi$ bl9d tru/s  7a7 ,curr5t ,memb]s
 ( ,congress  7#a7 ,c]tification ,n lat]
 ?an #cj days aft] ! date ( enactm5t ( !
 ,ban ,congressional ,/ock ,trad+ ,act1 
ea* curr5t ,memb] ( ,congress %all      
submit to ! applicable sup]vis+ e?ics   

(fice a c]tification t1 z applicable--  
7,a7 = ea* cov]$ inve/m5t own$ by !     
,memb] ( ,congress or a sp\se or dep5d5t
 *ild ( ! ,memb] ( ,congress1 ! ,memb] (
 ,congress1 or ! applicable sp\se or    
dep5d5t *ild ( ! ,memb] ( ,congress1 w--
 7i7 dive/ ! cov]$ inve/m5t2 or  7ii7   
place ! cov]$ inve/m5t 9 a qualifi$ bl9d
 tru/1 includ+ by e/abli%+ a qualifi$   
bl9d tru/ = t purpose1 if necess>y2 or  
7,b7 nei!r ! ,memb] ( ,congress nor any 
sp\se or dep5d5t *ild ( ! ,memb] (      
,congress owns a cov]$ inve/m5t4  7#b7  
,dive/iture or placem5t 9 qualifi$ bl9d 
tru/  7,a7 ,requirem5t ,subject to      
p>agraph 7#c71 n lat] ?an #abj days aft]
 ! date ( enactm5t ( ! ,ban             
,congressional ,/ock ,trad+ ,act1 ea*   
curr5t ,memb] ( ,congress %all dive/1 or
 place 9 a qualifi$ bl9d tru/ 7includ+  
by e/abli%+ a qualifi$ bl9d tru/ = t    
purpose1 if necess>y71 ea* cov]$        
inve/m5t own$ by ! ,memb] ( ,congress or
 a sp\se or dep5d5t *ild ( ! ,memb] (   
,congress4  7,b7 ,dive/iture ,a curr5t  

,memb] ( ,congress %all dive/ a cov]$   
inve/m5t held by ! ,memb] ( ,congress or
 a sp\se or dep5d5t *ild ( ! ,memb] (   
,congress if-- 7i7 ! ,memb] ( ,congress1
 or ! applicable sp\se or dep5d5t *ild (
 ! ,memb] ( ,congress1 is unable to     
place ! cov]$ inve/m5t 9 a qualifi$ bl9d
 tru/ by ! date describ$ 9 subp>agraph  
7,a72 &  7ii7 ! ,memb] ( ,congress fails
 to obta9 an ext5sion pursuant to       
p>agraph 7#c74  7#c7 ,ext5sions ,if a   
curr5t ,memb] ( ,congress1 or a sp\se or
 dep5d5t *ild ( ! ,memb] ( ,congress1 is
 unable to place a cov]$ inve/m5t 9 a   
qualifi$ bl9d tru/ by ! date describ$ 9 
p>agraph 7#b77;,a71 ! ,memb] ( ,congress
 may reque/1 & ! sup]vis+ e?ics (fice   
may grant1 #a or m reasonable ext5sions1
 subject to ! conditions t-- 7,a7 !     
total p]iod ( "t cov]$ by all ext5sions 
grant$ to ! ,memb] ( ,congress = ! cov]$
 inve/m5t %all n exce$ #ahj days2 &     
7,b7 ! p]iod cov]$ by a s+le ext5sion   
%all be n long] ?an #de days4  7b7 ,new 
,memb]s ( ,congress  7#a7 ,c]tification 

,n lat] ?an #cj days aft] ! date on :i* 
an individual becomes a new ,memb] (    
,congress1 ! new ,memb] ( ,congress %all
 submit to ! applicable sup]vis+ e?ics  
(fice a c]tification t1 z applicable--  
7,a7 = ea* cov]$ inve/m5t own$ by !     
,memb] ( ,congress or a sp\se or dep5d5t
 *ild ( ! ,memb] ( ,congress1 ! ,memb] (
 ,congress1 or ! applicable sp\se or    
dep5d5t *ild ( ! ,memb] ( ,congress1 w--
 7i7 dive/ ! cov]$ inve/m5t2 or  7ii7   
place ! cov]$ inve/m5t 9 a qualifi$ bl9d
 tru/1 includ+ by e/abli%+ a qualifi$   
bl9d tru/ = t purpose1 if necess>y2 or  
7,b7 nei!r ! ,memb] ( ,congress nor a   
sp\se or dep5d5t *ild ( ! ,memb] (      
,congress owns a cov]$ inve/m5t4  7#b7  
,dive/iture or placem5t 9 qualifi$ bl9d 
tru/  7,a7 ,requirem5t ,subject to      
p>agraph 7#c71 n lat] ?an #abj days aft]
 ! date on :i* an individual becomes a  
new ,memb] ( ,congress1 ! individual    
%all dive/1 or place 9 a qualifi$ bl9d  
tru/ 7includ+ by e/abli%+ a qualifi$    
bl9d tru/ = t purpose1 if necess>y71 ea*

 cov]$ inve/m5t own$ by ! ,memb] (      
,congress or a sp\se or dep5d5t *ild ( !
 ,memb] ( ,congress4  7,b7 ,dive/iture  
,a new ,memb] ( ,congress %all dive/ a  
cov]$ inve/m5t held by ! ,memb] (       
,congress or a sp\se or dep5d5t *ild ( !
 ,memb] ( ,congress if-- 7i7 ! ,memb] ( 
,congress1 or ! applicable sp\se or     
dep5d5t *ild ( ! ,memb] ( ,congress1 is 
unable to place ! cov]$ inve/m5t 9 a    
qualifi$ bl9d tru/ by ! date describ$ 9 
subp>agraph 7,a72 &  7ii7 ! ,memb] (    
,congress fails to obta9 an ext5sion    
pursuant to p>agraph 7#c74  7#c7        
,ext5sions ,if a new ,memb] ( ,congress1
 or a sp\se or dep5d5t *ild ( ! ,memb] (
 ,congress1 is unable to place a cov]$  
inve/m5t 9 a qualifi$ bl9d tru/ by !    
date describ$ 9 p>agraph 7#b77;,a71 !   
,memb] ( ,congress may reque/1 & !      
sup]vis+ e?ics (fice may grant1 #a or m 
reasonable ext5sions1 subject to !      
conditions t-- 7,a7 ! total p]iod ( "t  
cov]$ by all ext5sions grant$ to !      
,memb] ( ,congress = ! cov]$ inve/m5t   

%all n exce$ #ahj days2 &  7,b7 ! p]iod 
cov]$ by a s+le ext5sion %all be n long]
 ?an #de days4  7c7 ,acquisitions dur+  
s]vice  7#a7 ,9 g5]al ,subject to       
p>agraph 7#b71 & any applicable rules   
issu$ pursuant to subsection 7h77#c71   
effective beg9n+ on ! date ( enactm5t ( 
! ,ban ,congressional ,/ock ,trad+ ,act1
 a ,memb] ( ,congress1 & a sp\se or     
dep5d5t *ild ( ! ,memb] ( ,congress1 may
 n acquire a cov]$ inve/m5t4  7#b7      
,inh]itances  7,a7 ,9 g5]al ,subject to 
subp>agraph 7,b71 a ,memb] ( ,congress  
or a sp\se or dep5d5t *ild ( a ,memb] ( 
,congress :o inh]its a cov]$ inve/m5t   
%all dive/ or place ! cov]$ inve/m5t 9 a
 qualifi$ bl9d tru/ by n lat] ?an #abj  
days aft] ! date on :i* ! cov]$ inve/m5t
 is inh]it$4  7,b7 ,ext5sions ,if a     
,memb] ( ,congress1 or a sp\se or       
dep5d5t *ild ( ! ,memb] ( ,congress1 is 
unable to place a cov]$ inve/m5t 9 a    
qualifi$ bl9d tru/ by ! date describ$ 9 
subp>agraph 7,a71 ! ,memb] ( ,congress  
may reque/1 & ! sup]vis+ e?ics (fice may

 grant1 #a or m reasonable ext5sions1   
subject to ! conditions t-- 7i7 ! total 
p]iod ( "t cov]$ by all ext5sions grant$
 to ! ,memb] ( ,congress = ! cov]$      
inve/m5t %all n exce$ #ahj days2 &  7ii7
 ! p]iod cov]$ by a s+le ext5sion %all  
be n long] ?an #de days4  7d7 ,m+l+ (   
assets ,a sp\se or dep5d5t *ild ( a     
,memb] ( ,congress may place a cov]$    
inve/m5t 9 a qualifi$ bl9d tru/ e/abli%$
 by ! ,memb] ( ,congress "u subsection  
7a77#a77;,a77ii7 or 7b77#a77;,a77ii74   
7e7 ,sep>ation f s]vice & cool+-,(f     
p]iod requir$ = control ,dur+ ! p]iod   
beg9n+ on ! date on :i* an individual   
becomes a ,memb] ( ,congress & end+ on !
 date t is #ahj days aft] ! date on :i* 
! individual ceases to s]ve z a ,memb] (
 ,congress1 ! ,memb] ( ,congress1 & any 
sp\se or dep5d5t *ild ( ! ,memb] (      
,congress1 may n-- 7#a7 dissolve any    
qualifi$ bl9d tru/ 9 :i* a cov]$        
inve/m5t has be5 plac$ pursuant to      
subsection 7a71 7b71 7c77#b71 or 7d72 or
  7#b7 except z provid$ 9 ?is section1  

o!rwise control a cov]$ inve/m5t4  7f7  
,report+ requirem5ts  7#a7 ,sup]vis+    
e?ics (fices ,ea* sup]vis+ e?ics (fice  
%all make available on ! public website 
( ! sup]vis+ e?ics (fice-- 7,a7 a copy  
(-- 7i7 ea* c]tification submitt$ to !  
sup]vis+ e?ics (fice "u subsection      
7a77#a7 or 7b77#a72  7ii7 ea* qualifi$  
bl9d tru/ agreem5t ( ea* ,memb] (       
,congress2  7iii7 ea* notice & o!r      
docum5tation submitt$ to ! sup]vis+     
e?ics (fice "u p>agraph 7#b7 or 7#c72 & 
7iv7 ea* notice1 rule1 & o!r            
docum5tation issu$ or receiv$ by !      
sup]vis+ e?ics (fice "u subsection 7g72 
7,b7 a s*$ule ( all assets plac$ 9 a    
qualifi$ bl9d tru/ by ea* ,memb] (      
,congress & int]e/$ p>ty2 &  7,c7 a     
description ( ea* ext5sion grant$1 & ea*
 civil p5alty impos$1 pursuant to ?is   
section4  7#b7 ,tru/ees ,ea* tru/ee ( a 
qualifi$ bl9d tru/ e/abli%$ by a ,memb] 
( ,congress %all submit to ! ,memb] (   
,congress & ! applicable sup]vis+ e?ics 
(fice a writt5 notice 9 any case 9 :i* !

 tru/ee-- 7,a7 le>ns t-- 7i7 an int]e/$ 
p>ty has obta9$ k ( any tru/ prop]ty o!r
 ?an ! initial prop]ty ( ! qualifi$ bl9d
 tru/2 or  7ii7 ! value ( ! initial     
prop]ty ( ! qualifi$ bl9d tru/ is less  
?an #a1jjj2 or  7,b7 dive/s any initial 
prop]ty ( ! qualifi$ bl9d tru/4  7#c7   
,memb]s ( ,congress ,ea* ,memb] (       
,congress :o is a b5efici>y ( a qualifi$
 bl9d tru/ %all submit to ! applicable  
sup]vis+ e?ics (fice-- 7,a7 a copy ( !  
execut$ qualifi$ bl9d tru/ agreem5t by n
 lat] ?an #cj days aft] ! date (        
execution2  7,b7 a li/ ( ea* asset & ea*
 f9ancial int]e/ transf]r$ to ! qualifi$
 bl9d tru/ by an int]e/$ p>ty by n lat] 
?an #cj days aft] ! date ( ! transf]2   
7,c7 a copy ( ea* notice submitt$ to !  
,memb] ( ,congress "u p>agraph 7#b7 by n
 lat] ?an #cj days aft] ! date (        
receipt2  7,d7 a writt5 notice t an     
int]e/$ p>ty has obta9$ k ( any hold+ ( 
! qualifi$ bl9d tru/ by n lat] ?an !    
date t is #cj days aft] ! date on :i* ! 
,memb] ( ,congress discov]$ t ! k _h be5

 obta9$2 &  7,e7 a writt5 notice (      
dissolution ( ! qualifi$ bl9d tru/ by n 
lat] ?an #cj days aft] ! date (         
dissolution4  7g7 ,en=cem5t  7#a7 ,9    
g5]al ,! applicable sup]vis+ e?ics (fice
 %all provide a writt5 notice 7includ+  
notice ( ! pot5tial = civil p5alties "u 
p>agraph 7#b77 to any ,memb] ( ,congress
 :o fails-- 7,a7 to submit a            
c]tification "u subsection 7a77#a7 or   
7b77#a7 by ! date on :i* ! c]tification 
is requir$ to be submitt$2 or  7,b7 to  
place #a or m cov]$ inve/m5ts own$ by ! 
,memb] ( ,congress or a sp\se or dep5d5t
 *ild ( ! ,memb] ( ,congress 9 a        
qualifi$ bl9d tru/ 9 accordance )       
subsection 7a77#b71 7b77#b71            
7c77#b77;,c77i77,,ii71 or 7c77#b77;,a7  
by ! applicable deadl9e1 subject to any 
ext5sion "u subsection 7a77#c71 7b77#c71
 or 7c77#b77;,b74  7#b7 ,civil p5alties 
7,a7 ,9 g5]al ,a sup]vis+ e?ics (fice   
%all impose a civil p5alty1 9 ! am\nt   
describ$ 9 subp>agraph 7,b71 on a ,memb]
 ( ,congress to :om a notice is provid$ 

"u subp>agraph 7,a7 or 7,b7 ( p>agraph  
7#a7-- 7i7 on ! date t is #cj days aft] 
! date ( provision ( ! notice2 &  7ii7 n
 less frequ5tly ?an once e #cj days     
!reaft]4  7,b7 ,am\nt ,! am\nt ( ea*    
civil p5alty impos$ on a ,memb] (       
,congress pursuant to subp>agraph 7,a7  
%all be equal to ! mon?ly equival5t ( ! 
annual rate ( pay payable to ! ,memb] ( 
,congress4  7h7 ,au?orization ( sup]vis+
 e?ics (fices ,ea* sup]vis+ e?ics (fice 
9 ! legislative bran* may-- 7#a7 impose 
& collect civil p5alties 9 accordance ) 
subsection 7g72  7#b7 e/abli% su*       
proc$ures & /&>d =ms z ! sup]vis+ e?ics 
(fice det]m9es to be appropriate to     
implem5t ?is section2  7#c7 issue rules 
9 accordance ) ?is section to e/abli%   
new1 & supplem5t exi/+1 def9itions      
applicable to ?is section2 &  7#d7      
publi% on a website all docum5ts &      
communications describ$ 9 ?is           
subsection4  4  7b7 ,cl]ical am5dm5t ,! 
table ( sections = *apt] #aca ( title   
#e1 ,unit$ ,/ates ,code1 is am5d$ by    

add+ at ! end ! foll[+3  ,,sub*apt]     
,,iv--,c]ta9 assets ( ,memb]s (         
,congress1 sp\ses1 & dep5d5t *ildr5     
#acafa4 ,def9itions4 #acafb4 ,placem5t (
 c]ta9 assets 9 qualifi$ bl9d tru/s4  4